topic Re: AMEX Acct Review multiple soft hits in Credit Cards

AMEX Acct Review multiple soft hits

Anonymous — Wed, 14 Jan 2009 16:28:26 GMT

Hi I just pulled a Experian report and I have noticed that Amex soft hitting me titled as AMEX ACCOUNT REVIEW from EL Paso TX with a 800 number every 2 weeks for the last 3 months. In addition Chase Card Services and Macys Dept on a monthly basis

Stats:

Amex Blue with 12k CL using 2k montly and PIF religiously

Chase Freedom with 7k CL using 400 monthly and PIF religiously so they do not close it.

Macy's dept card 3k CL and rarely use the card. No balance.

Salary 110K annually

School loan 13k balance from 25k original amt. Paying this for 3 years now.

No collections.

I rent and LOW utilization I am preping to ping my CR for a mortgage

I have a car lease never late.

I have only 1 hard pull on EX from amex back in nov of 07

Pulled Fico on 12/29/08 EX 730, EQ 740, TU 746

Why are they soft hitting me so much. Do I smell a credit limit decrease?

What do you think? If they CRD me this will kill my FICO when mortgage co pulls all records. I think i should act fast before they blind side me.

Re: AMEX Acct Review multiple soft hits

oracles — Wed, 14 Jan 2009 16:37:09 GMT

There is that possibility however i think if you continue to keep a low UTIL% on your report, you will have nothing to worry about. Keep doing what you have been doing and everything should be OK. There really is nothing else you can do. But what you have been doing has been good, keep it up. Just make sure you pay before statement cut so you show low UTIL% and you will be fine in IMO.

Re: AMEX Acct Review multiple soft hits

jaxstraw — Wed, 14 Jan 2009 16:49:46 GMT

Be afraid .......... be very afraid !!!!

No really, it's a cause to monitor your credit more closely but there's really nothing you can do about it

You seem to be doing many of the right things credit wise to limit exposure but like I just wrote in another post it can happen to anybody, even with much better stats than yours.

JFYI, I had perfect payment history (PIF) W/ Chase & Amex and was closed down by both, low utility and DTI , scores in the high 600/low 700, maybe a few too many inq's on EX, but otherwise clean reports.

Re: AMEX Acct Review multiple soft hits

oracles — Wed, 14 Jan 2009 16:56:50 GMT

@jaxstraw wrote:
Be afraid .......... be very afraid !!!!

No really, it's a cause to monitor your credit more closely but there's really nothing you can do about it

You seem to be doing many of the right things credit wise to limit exposure but like I just wrote in another post it can happen to anybody, even with much better stats than yours.

JFYI, I had perfect payment history (PIF) W/ Chase & Amex and was closed down by both, low utility and DTI , scores in the high 600/low 700, maybe a few too many inq's on EX, but otherwise clean reports.

wow jax, what was the reason for them closing you down. That is really crazy.

Re: AMEX Acct Review multiple soft hits

jaxstraw — Wed, 14 Jan 2009 17:19:33 GMT

Basically was told by Chase that I have too much available credit.

I went from under 10% utility to just under 20% over the holidays.Not on my Chase or Amex cards though, they never carried a balance on either.

They were both softing me monthly and in Amex's case sometimes bi-weekly.

Didn't even bother trying to re-establish Amex, it's a worthless cause if you read other closure posts. Tried with Chase (had a post about it last week) and got them to report it as' account closed by consumer'. They will not reopen until I pay my OTHER cards balances down (all BT's) and only then will they consider.

By getting them to change how they report closure it leaves me the optoion of trying to reopen.

All in all it was alot of bad ju-ju last week. LOL.

Re: AMEX Acct Review multiple soft hits

oracles — Wed, 14 Jan 2009 17:28:59 GMT

that is right, i now remember reading that posts. I am really sorry about that. I just don't understand how they can make an assumption as to , too much credit if they don't know your income and weather or not you have to much credit. That is absolutely crazy. I hope you did not lost too much credit and you were able to replace it with cli on other cards.

Re: AMEX Acct Review multiple soft hits

Anonymous — Wed, 14 Jan 2009 17:35:32 GMT

I do not want gorilla CC company to mess with my fico. I have seen so many posts regarding CC companies CRD or cancelling cards across the board.

The interesting part amex especially is spamming my home mailbox with letters about Platnium and gold card charge cards pre-approvals plus 25k in reward points as bait. If i am on the "watch list" why spam me with these offers.

Could it possibly be my AMEX corp card which I charge 10k monthly on? this corp card does not show on my CR. I have religiously paid perfectly on time and PIF.

This is poor tactics...

Re: AMEX Acct Review multiple soft hits

Anonymous — Wed, 14 Jan 2009 17:57:50 GMT

I carry the Blue Card

AMEX ACCOUNT REVIEW
Date: January 8, 2009

AMERICAN EXPRESS CO
Date: December 30, 2008

• AMEX ACCOUNT REVIEW
Date: December 10, 2008

This was on my Experian and a few days after Jan 8th, this appeared on AMEX Website:

You're Pre-Approved! Earn 25,000 Membership Rewards® points when you apply for the Rewards Plus Gold Card from American Express. Accept Now.

Re: AMEX Acct Review multiple soft hits

Anonymous — Wed, 14 Jan 2009 18:06:50 GMT

It would be a big kick in the jaw if we were to accept this preapproval which may cause a domino effect and afterall get declined on preapproval, then credit limit decrease/credit limt chase me down on the blue, then cause a snowball effect to propagate across all accounts and bury the credit score.

This is mind boggling.

Re: AMEX Acct Review multiple soft hits

jaxstraw — Wed, 14 Jan 2009 18:20:32 GMT

Not for nothing but it was because I accepted a pre-approved CC w/ a BT offer of 0% for 15 months from Chase that triggered Chase to shut down all accounts.

They quoted this as seeking new credit on top of too much available credit.

AMEX is the king at pulling this stunt and apparently now Chase is pulling the same kind of stunt.

Re: AMEX Acct Review multiple soft hits

oracles — Wed, 14 Jan 2009 18:23:13 GMT

@Anonymous wrote:

It would be a big kick in the jaw if we were to accept this preapproval which may cause a domino effect and afterall get declined on preapproval, then credit limit decrease/credit limt chase me down on the blue, then cause a snowball effect to propagate across all accounts and bury the credit score.
This is mind boggling.

i think you are worrying to much. Keep doing what you have been doing and keep the util% low and you should be fine. You are doing everything right that you can possibly do, so why get yourself worked up over it. Enjoy what you have done so far.

Message Edited by oracles on 01-14-2009 01:23 PM

Re: AMEX Acct Review multiple soft hits

haulingthescoreup — Wed, 14 Jan 2009 20:01:32 GMT

Doomkopft wrote:

It would be a big kick in the jaw if we were to accept this preapproval which may cause a domino effect and afterall get declined on preapproval, then credit limit decrease/credit limt chase me down on the blue, then cause a snowball effect to propagate across all accounts and bury the credit score.
This is mind boggling.

I wouldn't accept the offer, but at the same time, AmEx has always been famous for one department not knowing what the others are doing. This was true even before their credit machete started swinging this past fall.

They need to have some sort of gi-normous corporate retreat where the marketing department can huddle up with the risk department and compare lists of who's being loved and who's being hated. Maybe they're trying to do this and scramble up the budget for it, and thus all the CLD's...